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Salton Announces Acquisition, Joint Venture
Jan 13, 2003
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Salton, Inc. today announced it has acquired the rights to source the manufacturing of and market all existing products of Lectrix, a designer and marketer of small kitchen appliances, as well as all of the patents, patent applications, trademarks and tradenames related to the Lectrix brand. These include seven existing Lectrix products and 40 Lectrix designs in various stages of design development. Financial terms of the deal were not disclosed.

Salton will re-brand and re-launch the acquired Lectrix products under the Westinghouse brand name. The Company is debuting the new Westinghouse-branded products at the International Housewares Show, which is being held in Chicago, IL from January 12, 2003 through January 14, 2003.

Leonhard Dreimann, CEO of Salton, stated, "The exciting and innovative Lectrix-designed products combined with the premier Westinghouse brand name represent a highly compelling collection of small kitchen electrics for our customers. The powerful combination of quality, convenience and styling marketed under the trusted Westinghouse brand name represent a significant growth opportunity for Salton."

In addition, the Company announced it debuted the Beyond Unplugged upright vacuum under the Westinghouse brand at this year's International Housewares Show, which has been met with a tremendous reception. This 14-A vacuum is cordless, bagless but never powerless. It comes with two Charge-N-Go(TM) Power Packs that can be interchanged for continuous cord free operation. Each Power Pack can run for 30 minutes and re-charges in 30 minutes.

The company also announced today that it has entered into a joint venture with Melitta, a leading producer of coffee filters; G. Rossi, S.R.I, an Italian manufacturer of pod-making equipment, commercial espresso machines, and espresso pumps; and a leading coffeemaker manufacturer in China. According to Salton, the joint venture and exclusive licensing agreement will allow it to be the first to market in the U.S. and Canada with an affordable household coffee pod system.

The product features Java-Pods(TM), pre-measured, individually wrapped discs filled with gourmet roast coffee, which are then inserted into the Melitta(R) One:One(TM) machine to produce either individual eight-ounce servings of coffee or five-ounce servings of robust European-style coffee. The Company debuted the new Melitta(R) One:One(TM) Coffeemaker at the International Housewares Show, which is currently being held in Chicago, IL, and plans to introduce the product at retail in May, 2003.

"The Melitta(R) One:One(TM) is an excellent addition to Salton's roster of innovative products. We are very excited about the market potential for this new product, which will meet the growing demand for easy-to-prepare, premium quality coffee. In fact, our research indicates that Americans drink approximately 235 million cups of coffee per day in their homes. In addition to sales of the machine, the Company will enjoy a recurring revenue stream from sales of the disposable Java-Pods(TM)," said Mr. Dreimann.

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